Service tax and sale tax both are included in one invoice

This query is : Resolved

NITISH (Querist)
Follow

01 February 2012 Hello,

I have a query regarding service tax.
our company is a software reseller and we are billing like as "amount" + 'service tax'= "sum of amount" + 'vat/ cst'= "T. Amount". I want to know that is it a right way of billing or not.

ex- 100+10.3%= 110.3+5%= "115.81"

if we received 50/- an advance payment against above amount(115.81), how we calculate the service tax for deposit ???????

please give a suggestion regarding this problem.

Thanks
Nitish

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)
Follow

01 February 2012 Hi nitish,

Going by simple mathematics.

Your Rs 50(115.81%) = basic(100%) + service tax(10.3%) + vat(5.81%)

Then service tax component received in Rs 50 = 50 * (10.3 / 115.81)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

rajeev koolwal

Frank

Vishal Dave

DEEPAK BHARGAVA

Subscribe Now

Service tax and sale tax both are included in one invoice

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

Senior Executive

GST CONSULTANT

CA Final